Playbook · expired listings
Expired listings playbook: from MLS pull to listing appointment
Expired listings are the most reliable seller-side lead source available to working agents — and the most poorly worked. A property that was on the market and didn't sell is, by definition, a seller who wanted to sell and didn't. The motivation is real. The phone numbers in the MLS export are not.
This is the end-to-end playbook: how to pull a clean list, how to find verified owner contact data, how to sequence the calls and texts, what to say when they answer, and how to convert the "I'm done with realtors" objection into a listing appointment. With the numbers a working agent should expect at each stage.
The funnel
Working backward from the listing appointment lets you size every stage above it. Here's what a typical solo agent running expireds consistently should expect on a 40-row weekly list:
That's roughly one signed listing every two and a half weeks from a 40-row weekly list. The math gets dramatically better with volume and consistency: 200 expireds a week, run the same way, moves toward 5 signed listings a month. The variance between working agents at the same volume is almost entirely a function of data quality and follow-up cadence — not script.
Stage 1 — Pull the list
Open your MLS, save a search filtered to:
- Status: Expired or Withdrawn
- Date range: Last 1-30 days (fresher converts better)
- Property type: Whatever you actually sell
- Geography: Your farm area; expand outward only if volume is too low
Export to CSV. The export will have the property address, list price history, days on market, and the previous listing agent's contact info. The owner's phone field will be blank, "PRIVACY," or just the listing agent's number — useless for cold prospecting. Don't skip this step; you need the address to feed into stage 2.
Stage 2 — Find the verified owner data
This is where most agents lose 60% of their pipeline without knowing it. The address-to-owner-to-phone resolution can't be done from inside the MLS. Three options:
Option 1 — Multi-site lookup (what most agents do)
Open TruePeopleSearch, Spokeo, BeenVerified, WhitePages, and the county property appraiser site in five tabs. For each address, tab-walk through the five sites, cross-reference results, and paste the best phone into a spreadsheet. Typical time: 4 minutes per row. For 40 expireds, that's two and a half hours of clerical work before you've dialed anything.
Option 2 — Bulk enrichment tool (what working agents do)
Upload the CSV to LeadCove (or BatchLeads, PropStream — see our comparison of skip tracing tools). Every owner is resolved in the background; results appear with every phone, every email, DNC flags inline, and LLC officer unmasking when the property is held by an entity. Typical time: 8 minutes per CSV, regardless of row count. For 40 expireds, that's roughly 94% of the per-row time recovered.
Option 3 — Try one before paying
We built a free address lookup tool for exactly this evaluation question. Drop in one of the addresses from your last expired list, see what the data looks like, judge it against the standard you already have. No account, no card.
Stage 3 — Sort by compliance + readiness
Before you dial anything, segment the enriched list:
- Call list: phones with mobile/landline label and CLEAN status (not on DNC, not flagged as TCPA litigator). This is where the daily dials go.
- Text list: phones flagged DNC but not TCPA-litigator. A compliant SMS with clear opt-out language is generally allowed even on DNC numbers if you have an Established Business Relationship; for cold prospecting from a different brokerage, written consent is required in stricter states. When in doubt, skip the text and move to email or direct mail.
- Email list: verified email addresses where available. Lower response rate than calls, but stack with the call cadence for compound effect.
- Skip list: phones flagged as known TCPA litigators. Do not contact. The legal exposure isn't worth one possible listing.
Stage 4 — The call cadence
A single dial gets you a connection 15-25% of the time. A three-touch cadence (call → if no answer, call again 4 hours later → if no answer, voicemail + text + email in sequence) gets you to 35-45%. The compound effect of multiple touches is the single biggest lever in the funnel.
Cadence over 7 days:
- Day 0 (within 24h of expiration): First dial. Live conversation goal: ask three open questions, listen.
- Day 0 evening: Second dial if no answer. Different time window catches different daily routines.
- Day 1: Personalized email referencing the property by address, not "Dear homeowner." 30-second video email outperforms text-only by ~2x.
- Day 3: Third dial + voicemail with a specific reference to a market data point (median DOM, recent comp, neighborhood absorption rate). Generic voicemails get deleted.
- Day 5: Direct mail postcard or handwritten note. Old-school but unsaturated.
- Day 7: Final dial. After this, the lead goes into a 90-day re-touch list, not the active cadence.
Stage 5 — What to actually say
The opening (first 10 seconds)
"Hi, is this [first name]? This is [your name] over at [brokerage]. I noticed your home at [street address only, not the city] just came off the market. I'm not calling to list it — I'm calling because I'm curious what didn't work for you last time around, and whether you're considering selling again at all. Got a quick minute?"
Three things this opening does: confirms the person, identifies yourself, lowers the immediate threat ("not calling to list it"), and asks one open question. Most expired sellers expect a hard pitch. Curiosity disarms.
The objection (within the first 30 seconds, almost always)
Expected objections, in order of frequency:
- "We're done with realtors for now."
- "We're going to wait a few months and re-list."
- "We're already talking to another agent."
- "The market is the problem, not the agent."
- "How did you get this number?"
For each, the highest-leverage move is the same: don't argue, ask why. Reframing happens in their head, not yours. "Got it — what made it feel like the right call to step back from realtors?" lets them tell you the real story. Most of the time it's a specific frustration with the previous agent's communication or pricing strategy, not a structural decision to not sell.
The bridge to the appointment
"Got it. Look, I'm not going to ask you to sign anything today. What I'd love to do is spend 30 minutes walking through the specific things that I think kept your home from selling last time around — pricing, marketing, photos, days-on-market analysis — and then you can decide whether any of that is worth doing differently. If it isn't, we shake hands and move on. Fair enough?"
Low-commitment ask. Specific value promise. Out clause built in. Working agents who run a clean version of this script see appointment-from-connection rates of 12-18%.
Stage 6 — The follow-up grid
If they don't book the appointment on the first call, the lead goes into a structured re-touch:
- Day 14: Personal email with a single market data point relevant to their home.
- Day 30: Phone call. "Just checking in — anything change on your end?"
- Day 60: Direct mail or video message.
- Day 90: Phone call. About 20% of expireds re-engage in the 60-120 day window — they've thought about it, talked to one other agent, and are now ready.
- Day 180: Final touch. After this, archive.
The unglamorous truth. The agents who close the most expireds aren't the best on the phone. They're the ones whose data is cleanest at the top of the funnel and whose follow-up cadence is most consistent at the bottom. Script matters; data and cadence matter more.
Compliance — a 30-second checklist
Before any expired-prospecting outbound:
- Phone flagged against the national DNC registry? Skip or get consent.
- Phone flagged as known TCPA litigator? Skip without exception.
- Owner in a stricter state mini-TCPA jurisdiction (Florida, Oklahoma, Washington, others)? Document written consent for any automated or list-based outreach. See our TCPA + state mini-TCPAs guide.
- Calling hours? Federal TCPA: 8am-9pm in the consumer's local time zone. Most state mini-TCPAs match or restrict further.
FAQ
How do real estate agents find expired listings?
Agents pull expireds directly from the MLS using a saved search filtered by status = expired or withdrawn, often with date ranges of the past 1-30 days. The MLS export gives the property address but rarely a usable phone number for the seller — the listing field shows the previous listing agent, not the seller. Agents run the address list through an owner-data tool to get the seller's verified phones and emails, with DNC and TCPA-litigator flags applied before dialing.
What's a good conversion rate on expired listings?
Working agents who run a consistent system see 1-3% conversion from cold call to listing appointment, and 30-50% appointment-to-signed-contract. So 100 expireds called → 1-3 appointments → 0.5-1.5 listings. The biggest variance is data quality at the top of the funnel.
How soon should I call an expired listing?
Within 24-72 hours of expiration. Sellers whose listings just expired are actively evaluating options. Three months later they've often re-listed, decided to wait, or rented. Freshness matters more than almost any other variable.
Is it legal to cold call expired listings?
Yes when done correctly. Federal TCPA, the national DNC registry, and any state-level mini-TCPA rules apply. Use a tool that flags DNC and TCPA-litigator records before dialing, and respect calling-hour restrictions.